Company Number: 15220662

Analysis Date: 2025-07-29 12:25 UTC

1. Risk Rating: HIGH

Justification: Pilbeam Construction Ltd is a newly incorporated company (October 2023) that has filed dormant accounts showing virtually no activity or financial substance (net assets and shareholders funds of £1). The company has not yet traded or generated any financial results, indicating a lack of operational history and financial data to assess stability. This presents a high risk profile from an investment perspective.

2. Key Concerns:

• Dormant Status with Minimal Financial Data: The company has filed dormant accounts for the period ending February 2025, demonstrating no trading activity or meaningful assets. This restricts any assessment of solvency or liquidity.
• Very Recent Incorporation and Limited Operating History: Incorporated in late 2023, the company has less than two years on record and no financial track record. This increases uncertainty around operational sustainability.
• Director Resignation and Control Concentration: One of the original directors resigned within months, and control is concentrated 75-100% in Pilbeam Holdings Ltd, a single entity. This may pose governance risks and lack of management depth.

3. Positive Indicators:

• Compliance with Filing Requirements: Despite being dormant, the company has submitted its accounts and confirmation statements on time, indicating good regulatory compliance.
• Clear Industry Focus and Web Presence: The company is classified in relevant construction SIC codes and maintains an active website with contact details, suggesting intent to trade in a defined sector.
• Experienced Directors Appointed: Current directors have roles aligned with the construction industry (Estimator and Construction Director), which is a positive sign for future operational capability.

4. Due Diligence Notes:

• Investigate the nature and financial position of Pilbeam Holdings Ltd, the controlling entity, to assess group support and financial backing.
• Monitor for future trading accounts and operational data to evaluate business activity and financial performance.
• Clarify reasons for director resignation and assess impact on company management and strategy.
• Review contractual pipeline or project commitments referenced on the company website to gauge upcoming revenue potential.